Chia and Coinbase

Chia Farming & Harvesting
1

When I get reward for finding block 0,25 Xch when i check on (http://www.spacescan.io)
I see the 0,25 XCH coming from sender Coinbase!
Why Coinbase? What have Coinbase with Chia? Coinbase even don’t support Chia

(Image) 0.250000000000 XCH 12/27/2022 01:20:53 PM STND Received (Image)0xf37 … c9a91 Coinbase (Image)xch1y … 2ucdy
(Image) 0.250100000010 XCH 12/25/2022 08:38:13 PM NAN Received (Image)0x5fd … 54eb6 Coinbase (Image)xch1y … 2ucdy
(Image) 0.250000000000 XCH 12/25/2022 05:53:46 PM STND Received (Image)0x5a5 … fe445 Coinbase (Image)xch1y … 2ucdy
(Image) 0.250002546158 XCH 12/24/2022 09:15:08 AM STND Received (Image)0x5c2 … f46e2 Coinbase (Image)xch1y … 2ucdy
2 Likes
2

I dont think its related to the Plattform coinbase

3

I don’t think too but if someone can answer why write there Coinbase that should be nice!

4

I just pulled up the last block and it also says coinbase for someone’s .25 reward. It’s possible they are using an API from coinbase (they do have an entry for Chia, even if it’s not supported https://www.coinbase.com/price/chia-network), or a similar situation of borrowed code.

1 Like
5

“Coinbase” is a term that refers to a special transactions in which the reward for the new block is printed. When you mine Chia succesfully, the XCH is created from “thin air” and thus has to have a special transaction type : this is what a “coinbase” transaction is. It is perfectly normal that the coin comes from “coinbase” since it cannot come from another Chia adress (nobody had the coin before you).

There was coinbase transactions from the very first block of the Bitcoin blockchain, and for each new block created a new “coinbase” transaction happens. This term applies to most proof-of-work blockchains.

The company “Coinbase” is named after this mechanism, but the Chia coins that are mined do not come from them (they have nothing to do with it). It’s just a fancy company name !

See glossary here (look for “Block reward”) :
https://aantonop.com/glossary/

Or straight from this book chapter :

9 Likes
6

Thank you for clarifying this for us!

3 Likes
7

Thank for the education all this time and i didnt know that’s where the name coinbase comes from.

3 Likes
8

Piece of gold I did not know…

2 Likes